In response to a request for input from the House Science, Space, and Technology Committee, the Information Technology and Innovation Foundation (ITIF) recommends that a new stimulus package include provisions to jumpstart manufacturing, technology entrepreneurship, and clean energy innovation, including large-scale demonstration projects in fields such as industrial decarbonization.
Policymakers should look into re-shoring manufacturing supply chains to build stronger partnerships between federal agencies and “hard tech” start-ups; make public investments that will “crowd in” subsequent private investments during an economic recovery; and strengthen resilience so the nation can better withstand exogenous shocks in the future.
Most of ITIF’s recommendations fall into HSST’s category 4, “Long-term Economic Stimulus/Recovery” to prepare for the possibility that the COVID-19 crisis will morph into a sustained economic downturn.
ITIF’s priorities in offering these items include:
- Supporting workers and companies most likely to be affected by such a downturn;
- Making public investments that will “crowd in” subsequent private investments during an economic recovery;
- Engaging existing and building new domestic supply chains; and
- Strengthening resilience so the nation can better withstand exogenous shocks in the future.
About the ITIF
Founded in 2006, ITIF is an independent 501(c)(3) nonprofit, nonpartisan research and educational institute—a think tank. Its mission is to formulate, evaluate, and promote policy solutions that accelerate innovation and boost productivity to spur growth, opportunity, and progress. ITIF’s goal is to provide policymakers around the world with high-quality information, analysis, and recommendations they can trust. To that end, ITIF adheres to a high standard of research integrity with an internal code of ethics grounded in analytical rigor, policy pragmatism, and independence from external direction or bias. (Read more about ITIF’s policy goals and values.)